With the high interest that Texas Heritage offers on some of its checking accounts, does it make sense to open a savings account at the bank?
Assuming you don’t qualify for the 5% APY, the interest on the savings accounts is slightly higher than on the checking accounts. Specifically, you get 0.75% interest if you have less than $2500, and 1% for over $2500.
Just remember that you are only allowed six transactions per month, so if you need to manage your transfers between accounts to meet this limit. On the lower-balance accounts, you will also be hit by a fee of $2 for any withdrawals (the first withdrawal each month is free).
